Daily iron ore price update (he’s baaaack)

David Llewellyn-Smith

Wednesday, 15 March 2017

Iron ore price charts for March 14, 2017:

Spot eased. Paper took off again overnight and Dalian is now just 2% short of new highs as Banana Man revived. Adjusted for taxes and currency it is at $82 and change. Steel rebounded close to a new high. Coals were calm.

Chinese data yesterday was firm. But it also showed stimulus slowing. Moreover, steel output was surprisingly soft at 128.8mt which was well off ’16 H2’s record setting months. The collapse in export orders may be to blame but what matter? Soft is soft.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.